EIA: US Ethanol Stocks Continue Higher

WASHINGTON (DTN) -- Domestic ethanol stocks continued higher for the third straight week through Jan. 18, and plant output declined, data released by the Energy Information Administration on Thursday, Jan. 24, shows.

EIA reported domestic ethanol stocks increased by 150,000 barrels (bbl) to 23.501 bbl during the week ended Jan. 18, while posting 1.3% decline in inventories from the corresponding week a year ago.

Data detailed ethanol stocks at the East Coast PADD 1 posted a 192,000 bbl gain to 7.486 million bbl, which is 1.4% higher from the previous year. At the Midwest PADD 2, stockpiles gained 198,000 bbl to 8.153 million bbl, 2.4% lower than inventory on-hand last year. Gulf Coast PADD 3 stocks posted 212,000 bbl draw to 4.409 bbl, which is 8.3% lower than a year ago, while West Coast PADD V ethanol inventories remained flat at 3.071 million bbl, while registering a steep gain of 6.9% against the corresponding week a year ago.

Plant production decreased by 20,000 barrels per day (bpd) to 1.031 million bpd, with output down 2.9% against a year ago. Four-week averaged production was 1.023 million bpd versus 1.038 million bpd during the corresponding four-week period in 2018.

Net refiner and blender inputs, a measure for ethanol demand, increased 21,000 bbl, or 2.4%, to 883,000 bbl from the prior week. For the four weeks ended Jan. 18, blending demand averaged 857,000 bpd, 24,000 bpd above the same period in 2018.

(AG)